Financial News and Advice in Singapore

Top 3 Credit Cards to Save Money on iPhone X, 8 and 8 Plus

Which credit cards give you the best savings on the new iPhone X, 8 and 8 Plus?

You’re probably chomping at the bit to get your hands on the gleaming new iPhone X or iPhone 8. As evidenced in the latest round of price hikes, being an Apple fanboy continues to be cripplingly expensive. (Don’t be surprised, there’s no reason for Apple not to keep raising prices.)

Worshipping at the altar of beautifully designed technology doesn’t mean you can’t try and save some money. If you put your purchase on a cashback credit card, you’ll get immediate upfront savings.

With that in mind, we found the top 3 credit cards to use when pre-ordering the iPhone X or iPhone 8. Use these savings to help keep yourself fed as you await the arrival of your new mobile.

DBS Live Fresh Card – Most Upfront Savings, but With Caveats

The DBS Live Fresh Card is having a promotion now that gives you 5% cashback on online purchases. This is in addition to the 3X points per S$5 spent that is a regular feature of the card. The promotion lasts till 30 Sep 2017.

Eagle-eyed readers would already have spotted the problem: The iPhone X will only be available for pre-orders starting from 27 October onwards!

However, you’ll be in time for the iPhone 8 and 8 Plus, as they go on sale starting 15 September. You can save up to S$70 using the DBS Live Fresh Card this way.

But we know you’ve got your heart set on the iPhone X. Well, in that case, you’ll have to decide if the approximately 1,130 points you’ll get from your purchase is rewarding enough for you.

Of course, all these becomes moot if DBS decides to extend the 5% cashback promo for another month. If that happens, you’ll get the most upfront savings with this card, so fingers crossed.

The next card on our list had the potential to outperform every other card on the market. Unfortunately, it’s limited by its low monthly cap.

With 7% cashback on all online orders, the Standard Chartered SingPost Platinum Visa Card could have saved you S$132.16 on the iPhone X (256GB). However, the card comes with a monthly cashback of S$60, which severely limits the value you get from your purchase.

But still, S$60 savings is better than nothing. It certainly is more than what you’ll get from many other cards on the market.

Also, if you’re new to the card, you’ll get a welcome gift in the form of S$138 bonus cashback – but only if you apply online by 30 Sep 2017.

OCBC Frank Card – High Online Purchase Savings, but Low Monthly Cap

Our third choice also offers S$60 upfront savings on your iPhone X or iPhone 8 purchase, across all models.

The OCBC FRANK Card’s strongest feature shines through here. With an attractive 6% cashback on online purchases, this card, too, has the potential to give you serious savings.

However, like many others, its low monthly cashback cap (S$60) limits its helpfulness in this case. Additionally, you’ll have to make S$400 in offline purchases to qualify for the 6% cashback.

There’s one advantage to this card though. You’ll get additional 2% cashback on selected Apple Store purchases. (No, the iPhone X, 8 and 8 Plus are not included, but you won’t be able to take advantage of it anyway due to the cashback cap).

This might come in handy when buying accessories (wait till a new statement month) for your shiny new gadget.

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By Alevin ChanA Certified Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimize happiness and enjoyment in his life.

““I used to be scared of credit cards, but SingSaver.com.sg made me realise that I don’t have to worry about debt if I pay my bill on time each month. I found and applied for a cashback card easily on their website. Love it.””